Economics Games

Below are listed links to a variety of games used by both economists and neuroscientists to test a primary assumption – that people will act rationally, in the service of their self-interest. It turns out that in a lot of the experiments that have been conducted, exactly the reverse is true. There is a great deal of work which has been done with many variations of the games described below. Of particular interest is the Free Rider problem, the individual who invariably uses more than his share of resources. In a thoughtful Wikipedia article, the contributors discuss the problem of the effects of selfishness as it impacts on the common good.

Let the Games Begin
Prisoner's dilemma Real Life Examples – The most common game we all play at one time or another. Should be played for multiple rounds, with total rounds determined by referee Sometimes, irrationality has benefits! Cooperation of competitors Description – Win, “Chicken out,” or Die. Also, best played as a multi-round game, giving the players the opportunity to “psyc out” each other. Again, referee determines total number of rounds to end of a game. Risky altruism at work A Lesson in Conflict Escalation A story that became a game – Multi Player A 2 person Zero Sum Game Better something than nothing! Multiplayer – If you are wrong, you get thrown overboard! Multiplayer extension of Prisoner’s Dilemma – Try this with some friends and see what happens. Number Matching 2 Person Fair Division Algorithms N Person Prisoners’ Dilemma 3+ Person Number Guessing 2 Person simplified poker game – Just three cards

Traveler's dilemma Coordination game Chicken

Volunteer's dilemma Dollar auction Stag hunt Matching pennies Ultimatum game Pirate game Public Goods Game Blotto games Cake cutting Diner's dilemma Guess 2/3 of the average Kuhn poker

Nash bargaining game Screening game Trust game

Tests players attempts to receive “justice” A Variation on the Ultimatum Game Information Exchange game 2 Player Ambiguous Typical employer/Employee Conflict 2 Person “Investment Return” Will you trust the other guy to give you a Return on Investment?